My husband and I are approaching an exchange on a flat in Small Heath and my mum and dad have sent the 10% deposit to my property lawyer. I am now told that as the deposit has been sent from someone other than me my property lawyer needs to disclose this to my bank. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I advised the bank concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to delay the deal?
Your solicitor is obliged to clarify with mortgage company to make sure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only disclose this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Can you explain why leasehold purchase conveyancing in Small Heath costs more?
In short, leasehold conveyancing in Small Heath and elsewhere usually necessitates more due diligence compared to freehold conveyancing. This includes lease investigation, communicating with the landlord concerning the service of applicable notices, securing current service charge and management information, securing the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different leaseholders have owned the lease since it was first entered into.
I am aiming to move home in August. Does my conveyancing solicitor liaise with the removal company on the completion day. As an aside, can you put forward a removal company in Small Heath. Conveyancing lawyer was found before I stumbled across this page.
On the day of completion you can pick up the house keys from your property agent but this can only take place when the vendors conveyancers advise the agent that they have the completion monies and the keys can be passed over. You can tell the removal company that they can start moving you in. As a matter of policy we do not recommend a particular removal organisation but can assist you in locating a residential property solicitor in Small Heath or a firm that specialises in conveyancing in Small Heath.
When it comes to mortgage companies such as RBS, do Small Heath conveyancing practitioners face an annual charge to be on the list of approved solicitors?
We are unaware of any mortgage company fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
I have decided to exercise my right to buy my property in Small Heath off the council. I have a mortgage agreed with Coventry BS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Coventry BS, you will need to appoint a solicitor on the Coventry BS conveyancing panel.
Will our lawyer be making enquiries regarding flooding as part of the conveyancing in Small Heath.
The risk of flooding is if increasing concern for conveyancers conducting conveyancing in Small Heath. There are those who purchase a property in Small Heath, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Conveyancers are not qualified to offer advice on flood risk, but there are a various searches that may be carried out by the purchaser or on a buyer’s behalf which should figure out the risks in Small Heath. The standard property information forms supplied to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the seller to determine whether the premises has suffered from flooding. If the property has been flooded in past and is not disclosed by the owner, then a buyer could issue a claim for damages as a result of such an misleading reply. A buyer’s lawyers should also commission an environmental search. This should reveal if there is a recorded flood risk. If so, more detailed inquiries will need to be carried out.
I would be grateful if you could explain what my options are if my Small Heath conveyancing searches shows negative results?
Normally, almost all adverse entries that arise in Small Heath conveyancing search results can be addressed before completion or title insurance may be put on cover. It is important to remember that regardless of the fact that you are purchasing the premises and might be content to accept the search results, your mortgage lender may not, and ultimately have the final decision.